| Last Action | 02/18/20: posting withdrawn |
|---|---|
| Title | AN ACT relating to financing actuarially accrued pension liabilities of the plans administered by the Judicial Form Retirement System. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Actuarial Analysis |
| Bill Request Number | 1352 |
| Sponsor | J. Nemes |
| Summary of Original Version | Amend KRS 21.525 to provide that beginning with the 2021 actuarial valuation, unfunded liabilities of the Judicial Retirement Plan and the Legislators' Retirement Plan shall be amortized over a closed 25- year period, except that: any future legislative changes shall be separately amortized over a closed 20- year period; any future changes in actuarial methods or assumptions shall be amortized over a closed 15-year period; and any future actuarial gains or losses shall be amortized over a 15- year closed period; provide that beginning with the 2021 actuarial valuation, the actuarially accrued liability contribution shall be calculated using the level dollar amortization method. |
| Index Headings of Original Version |
General Assembly - Retirement, new amortization method for paying off unfunded liabilities to LRP Public Officers and Employees - Judicial Form Retirement System, new amortization method for paying off unfunded liabilities Retirement and Pensions - Judicial Form Retirement System, new amortization method for paying off unfunded liabilities Actuarial Analysis - Judicial Form Retirement System, new amortization method for paying off unfunded liabilities |
| 01/27/20 |
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|---|---|
| 01/29/20 |
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| 02/04/20 |
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| 02/18/20 |
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Last updated: 10/27/2020 12:10 PM (EDT)
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